On July 14, 2023, the U.S. Embassy in Costa Rica announced a partnership agreement between the U.S. and Costa Rican governments.
The purpose of this partnership is to “explore opportunities to diversify and grow the global semiconductor ecosystem and create a more transparent, secure, and sustainable global semiconductor value chain. This partnership is enabled by the International Technology Security and Innovation Fund (“ITSI” Fund”), created by the CHIPS and Science Act of 2022.”
This agreement creates attractive investment opportunities for foreign companies in the semiconductor industry, that may export their products or services benefiting from this partnership. For local entities, it provides important business opportunities by establishing commercial relationships with potential investors. This initiative could also create significant employment opportunities, well suited for the highly specialized workforce that Costa Rica offers.
The Costa Rican Free Trade Zone Regime would provide significant tax and logistics advantages to foreign companies looking to initiate operations in Costa Rica and benefit from the said partnership. Our firm takes pride on having assisted dozens of foreign and local entities to operate under the Free Trade Zone Regime. We have been legal allies to our clients in this field for more than 25 years, being active in this area since the creation of the FTZ Regime in Costa Rica. We have the knowledge and experience to ensure that any interested companies may successfully take advantage of the new opportunities that this government partnership creates in the semiconductor industry.
The official press release issued by the U.S. Embassy may be reviewed at this website.
Author: Claudio Donato Lopez
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